New Issue: Morgan Stanley prices $1.5 million buffered participation securities linked to S&P, Dow

New York, Feb. 17 – Morgan Stanley Finance LLC priced $1.5 million of 0% buffered participation securities due Feb. 17, 2027 linked to the S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the worst performing index is positive, the payout at maturity will be par plus the return of that index. Investors will receive par if the worst performing index declines by 15% or less and will lose 1% for every 1% that the worst performing index declines beyond 15%.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered participation securities
Underlying indexes:	S&P 500 index and Dow Jones industrial average
Amount:	$1,501,000
Maturity:	Feb. 17, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of worst performing index is positive, par plus that index's return; par if worst performing index declines by 15% or less; 1% loss for every 1% that worst performing index declines beyond 15%
Initial level:	34,738.06 for Dow Jones industrial average, 4,418.64 for S&P 500 index
Buffer level:	29,527.351 for Dow Jones industrial average, 3,755.844 for S&P 500 index, 85% of initial levels
Upside leverage:	100%
Cap:	None
Pricing date:	Feb. 11
Settlement date:	Feb. 16
Agent:	Morgan Stanley & Co. LLC
Fees:	3.75%
Cusip:	61773H6Y0

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